Leveraging the Value of Competitive Sets to Boost CRE Strategies & Operations
In-depth market knowledge, coupled with state-of-the-art technology, sets the stage for successful deal-making in an ever-evolving commercial real estate (CRE) landscape. Whether it’s investment sales, leasing or asset management, access to market intelligence is paramount in an era of tight competition.
In our latest white paper, The Value-Add of Competitive Sets, we discuss the importance of accurate market intelligence supported by quantitative and qualitative analyses, which enable industry players to distinguish their portfolios by positioning their assets at the forefront of the market.
How Competitive Sets Do the Heavy Lifting
Automated Competitive Sets — part of the Yardi Commercial Suite — enable CRE professionals to run active research on the competition with reliable data by isolating and comparing buildings to their local market peers based on similar features — rather than simply by location.
Notably, the difference between aptly curated competitive sets and traditional sales and lease comparables is the depth, range, timeliness and precision of the data: To that end, the latest tool from CommercialEdge — integrated with Edge Research — delivers real-time data, including net rents, lease spreads, pricing, occupancy and more, all while simultaneously providing proof of on-the-ground market changes through Executive Updates.
“The alerts tell you that something is changing in the trendline that you need to think about and discuss,” explained Turner Levison, senior account executive with Yardi. These shifts and notifications pave the way for conversations that elevate data from commodity level to value-add service.
Automate Market Intel Against Your Portfolio
Meanwhile, this powerful automation translates into further comprehensive business intelligence when combined with Yardi Voyager, where deal synchronization is enhanced in a centralized database, thereby providing maximum portfolio visibility. By leveraging the power of connected solutions, property data is converted into dynamic marketing based on availability in Voyager.
What’s more, the automatic generation of competitive sets provides access to Yardi Market Insights, as well — a functionality that guarantees an up-to-date snapshot of local market trends to instantly position CRE professionals “in the know.” Additionally, as Levison highlighted, the data behind competitive sets is underpinned “by 500+ CommercialEdge researchers watching over virtually every market in the country, 24/7 and 365 days a year.”
Setting the Stage for the Qualitative Component
While competitive sets facilitate and enhance strategic partnerships, shifting market conditions are driving discussions around evolving tenant needs and work patterns that touch on health and wellness protocols, social responsibility and sustainability, among others. And, the qualitative conversations sparked by competitive sets are also part of the value they add to a transactional environment that demands speed to market.
Granted, these are just a few of the aspects discussed in The Value-Add of Competitive Sets. Read the full report to access actionable insights into the trends that will shape the future of both leasing and acquisitions.
Tight competition for industrial space has accelerated deal cycles, prompting operators to emphasize automation and portfolio visibility.